Thai Stock Market Roundup on May 19, 2020

– SET Index closed at 1,309.95 points, increased 23.42 points or 1.82% with a trading value of 78.8 million baht. The analyst stated that the Thai stock market had a positive response to the report of potential coronavirus vaccine and closed higher inline with regional markets.

The European markets and Dow Jones Futures traded slightly lower due to a high gain from yesterday’s session.

The report over the vaccine lifted investors sentiment in hopes of higher oil demand, causing the energy sector to perform well, coupled with constant rise in oil prices.

The 1,300 level might cause SET Index to have a high P/E, but for mid-term and long-term investors, the current level would be an acceptable choice for investment, asserted the analyst.

The analyst advised investors to monitor the Monetary Policy meeting tomorrow as 80% of economists forecasted that the MPC will lower the rate.
In addition, the analyst gave a support level for tomorrow’s session at 1,300 points and a resistance level at 1,320 points.

– Local Institutions made a 4.4 billion baht of net buy, sending SET Index to close 23pts higher.

– Nasdaq new regulation tended to affect Chinese IPOs.

– Oil rose for the 4th day from a production cut and global demand rebound.

– BOJ called for an unscheduled meeting on Friday to discuss aid packages for financial institutions.

– Thai Cabinet approved THAI’s rehabilitation plan by filing a bankruptcy with a condition for MOF to hold a stake below 50%. The company stated that the business will continue as normal.

– MINT announced a capital increase of over 1 million shares and issued MINT-W7.

– TSE acquired “Earth Energy” with an investment of 120 million baht, expecting to expand a sell-install electricity system business.

– TRIS affirmed EA’s company rating at “A”, reflecting robust cash flows from business.

– TPCH started a COD of Pattani Green Plant, aiming to reach a PPA of 250MW by 2020.

– ITD acquired a basement development project of the government complex worth 2.3 billion baht.

– Stocks in Focus on May 19, 2020: EA (KGI Securities TP at ฿59.50/share) and SPRC (Maybank Kim Eng TP at ฿8.00/share).

 

Top 10 Most Impact Shares on May 19, 2020